Returning to the short-term situation, consider what data and how the geopolitical situation will affect the course of steam discussed?
At first glance you should closely follow the conversation, the establishment of a compromise or lack thereof in the negotiations with Greece. The next market will pay attention to the data on in the US, and the data from Europe, even if better can be ignored in the analysis. To sum it all should also be remembered that the ECB, the whole time leads program. As we know, the ECB, which is not alone in the struggle for economic development, without the help of politicians (reform), you will not be able to heal itself in Europe. Everything indicates that EUR / USD will tend to the south, and any increase will only be adjustments in a strong downtrend.
The economic calendar for Wednesday:
Germany: PMI German manufacturers
US: ADP-farm employment change and ISM manufacturing index
Forecast for Wednesday:
Due to the strong buying, draws up a chance for a small correction in the vicinity of 1.08, which at the moment is a strong resistance. This level is additionally supported by 38.2% fibo falls from 1.0948 to 1.0713. Assuming that to be is just a correction, the demand should not break this resistance. In my opinion, in the vicinity of 1.08 should include the supply side and direct course to the south, with a likely test the level of 1.07. In case of breaking the bottom should be expected that the course will be discussed couples head towards support for 1,0600-1,0620.
There is a possibility that the decline will be no adjustments to the 1.08 area.
The alternative version of the course will override the resistance of 1.08, which automatically becomes support. However, this option is not taken into consideration by me.